Do you pay your credit card bill in full each month?

[click4credit]

Credit cards are a fantastic way to manage cashflow when used right but as I'm sure a lot of us have found it can be easy to lose control and get into debt. I used to have about 5 credit cards with large balances owing on all of them. Finally I got into control and paid them all off. I still have two cards and use them for most of my spending to earn rewards points but now pay the bills in full every month.

Interested to see how many others are paying off the bill in full and have a balance owing? Take the poll.

[tinapbeana]

bah! still working on paying the 2 cards i have in my wallet. good news is it's less than $1500... once paid, they will remain stashed unless needed. my cash system for groceries an online bill pay for bills is working well for me, so i've no desire to use my credit card to pay for those.

[mrvirgo]

I only have one card that I am using right now and it's a reward card. I pay each month off in full and get $300.00 a year (the maximum dollars allowed per year) back. Neat, huh? Nothing like getting paid to use a credit card.
If I do reach the maximum reward in any given year, I go on to a different reward card and try to max it out too. Grin.

[frugalmomof1]

I pay in full each month unless I am taking advantage of a 0% financing offer.

[scarygirl]

I didn't pay in full each month and now bear the consequences. My mind is straight now though. LMAO! I owe, I'm not going to say. It's enough to make me cry, but I'm making progress and have stopped using altogether.

Luckily, I've beenn able to hold my credit score intact. I'm really really trying.

[Bookie]

I do now.

[simpleyme]

I pay them off in full when i use them,i just do not find them convenient like most people do
I do not like using someone else's money and a 20 -28 day free loan seems worthless to me
I have tried rewards but just have not found one that suits me,

[click4credit]

I only have one card that I am using right now and it's a reward card. I pay each month off in full and get $300.00 a year (the maximum dollars allowed per year) back. Neat, huh?

That is pretty neat - very smart to get waht you can out of the rewards schemes. Generally I've found the rewards cards don't have the best interest rates but when you pay your bill in full each money it does not matter if the APR is 10% or 20%. I also have a rewards credit card and put most outgoings through the card so works out pretty well.

[Magicman]

I'm not sure how many people know about this, but banks will extend Personal Lines of Credit to individuals up to your credit worthiness.

I used a Personal Line of Credit a few years back to buy some furniture for my house. The bank approved $3,500. I took the credit line at 8%. Then I used what I needed and saved over 10% in interest charges compared to what I would have paid if I used a credit card for the stuff!

I thought I would pass that along, Magicman.

[mercuryguy]

Originally Posted by Magicman

I'm not sure how many people know about this, but banks will extend Personal Lines of Credit to individuals up to your credit worthiness.

I used a Personal Line of Credit a few years back to buy some furniture for my house. The bank approved $3,500. I took the credit line at 8%. Then I used what I needed and saved over 10% in interest charges compared to what I would have paid if I used a credit card for the stuff!

I thought I would pass that along, Magicman.

Thanks for that information.
Does Bank of America does it? what do they look before they give out a loan?

Thanks.

[tabbycat31]

I don't use cards often (for gas and online purchases). Everything else I pay cash for (I don't like debit cards at all).
I PIF my Discover every month.

[disneysteve]

Originally Posted by click4credit

Generally I've found the rewards cards don't have the best interest rates but when you pay your bill in full each money it does not matter if the APR is 10% or 20%.

True. I honestly don't have a clue what the rates are on our cards. We carried a balance one time, for one month, when we got married and charged our honeymoon. We paid half one month and half (plus interest) the next. That was in 1992. Every month since then, we've paid in full and earned thousands of dollars in rewards.

[JanH]

When I get all mine paid off, I will pay any that we might use in full each month. I've learned my lesson. Until then......

[bjl584]

I pay mine in full every month. I have one card and only use it when I absolutely have to such as an online purchase.

[MonkeyMama]

Yes - pay each month.

I get on average $500/year back in cash rewards.

I have never paid a dime to the credit card companies. I would consider carrying a balance at 0% financing for a short while.

[JoyJoy]

Carrying a balance on 0% card only. Use one card for cash rewards...NOW. Paid in full each month. Had to get disciplined!

[omicron]

Originally Posted by simpleyme

I pay them off in full when i use them,i just do not find them convenient like most people do
I do not like using someone else's money and a 20 -28 day free loan seems worthless to me
I have tried rewards but just have not found one that suits me,

Using CCs are so convenient. Why carry a check book or cash??? If something goes wrong, you could always fight with the CC company about a bad merchant.

You should try Chase PerfectCard or Citi Shell Card. They credit you every single month. It's like free money.

I pay off my CC every single month.

[Daylily]

I pay off credit card balances every month. I will NOT pay interest on credit cards.

The one recent exception that I didn't pay off every month was a 0% financing deal when I bought new bedroom furniture. I think it was one of those 12- or 24-month No Interest specials. I think I paid it all off in five months. Even though I didn't pay interest on it, I will never do one of those again. The furniture store contracted with some lame credit company and I was bombarded with phone calls and junk mail from the company wanting to know if I wanted to borrow MORE money. Ummm, No thanks.
I should have never done the financing deal. I had the money in my savings account and could have paid for the furniture the day I bought it. I also don't know what opening that account did to my credit score.

[nanamom]

I pay them off. i would eat peanut butter sandwiches before i will carry a balance on a card. I have been known to pay them before they are due. Once burned twice shy.

[th_tan]

Originally Posted by scarygirl

I didn't pay in full each month and now bear the consequences. My mind is straight now though. LMAO! I owe, I'm not going to say. It's enough to make me cry, but I'm making progress and have stopped using altogether.

Luckily, I've beenn able to hold my credit score intact. I'm really really trying.

Yeah I'm in the same boat, but luckily a relative paid me back a substansial loan, so I'm paying off all my credit cards but one. Now I will start paying back in full every month.